Asia fuel oil margins slump on U.S.-Iran de-escalation hopes

Asian HSFO refining margins fell to a discount of $2.29/bbl on Thursday, down from a premium, as U.S. midterm outcomes raised expectations of Middle East de-escalation and increased oil product flows through the Strait of Hormuz. The market has also softened as more Gulf oil reaches Asia. The shift reflects speculative positioning on geopolitical risk rather than confirmed policy changes.

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